clarityviellegq67.blogspot.com
Charlotte, N.C.-based Crescent, a jointg venture of and that specializesin mixed-us developments, said in a press release that the move was part of a strateguy to reduce debt and improve its capital structure. The companyh intends to continue operate its businesses withoutt major interruption thanksto $110 million provided by a group of the company’s existing A federal bankruptcy court in Texas had not receiveed the filing at the time of the Crescent simultaneously announced that CEO Arthurr Fields was retiring and would continue to work as an The company’s restructuring officer, Andrew a managing director with Alvarez & Marshao North America LLC, will servw as CEO.
“We have been in active discussionsa with our lenders and other stakeholders as we work towards an agreemenft that will bring our capitao structure in line with the current economic Hede said via the Crescent became a major player inthe D.C. area in when it purchased the 300-acre Potomac Yard a former East Coast Rail from . In 2004, in one of the Washington area’sd largest commercial lease transactions in recent Crescent signed the GeneralServices Administration’s National Capita Region (NCR) to two leases totalinhg 405,177 rentable square feet for the EPA at One and Two Potomacx Yard.
Crescent sold off much of the rest of the land in It eventually sold its interest in One and Two Potomacd Yardto J.P. Morgan. Spokesman Chuck Burgess said the company'ss "approach to its properties is no differenf than it was beforethe bankruptcy." The company was also selected as mastere developer of a 4.1 millionm square-foot mixed-use project for the in Northwesty D.C. in 2007. The home announced in February that the deal hadfalleb through.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment